Adler Reid G. 4

What Happened
Reid G. Adler, Chief Legal Officer of Vistagen Therapeutics (VTGN), received two option grants on April 7, 2026 totaling 75,000 stock options (18,753 and 56,247). The Form 4 lists the transaction price as $0.00 (derivative award), so no cash changed hands at grant. These are awards under the company’s equity plan (not open-market purchases or sales).

Key Details

• Transaction date: April 7, 2026 (filed April 9, 2026) — filing appears timely.
• Transaction type/code: A = Award/Grant (derivative).
• Grant totals: 18,753 options + 56,247 options = 75,000 options. Reported acquisition price: $0.00 (grant).
• Vesting (footnote F1): 25% vests six months after the April 7, 2026 grant date, then 25% every six months thereafter; fully vested on the two‑year anniversary.
• Shares owned after transaction: not specified in the supplied filing data.
• Plan: Awards granted under the Issuer’s Amended & Restated 2019 Omnibus Equity Incentive Plan.

Context
These are equity compensation grants (options), which do not represent immediate ownership of shares and typically vest over time to incentivize continued employment. The filing does not indicate an exercise price or any immediate sale of shares — it documents the grant only. Grants are routine executive compensation items and should be interpreted differently from purchases or insider sales.